Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

The following table reflects the reconciliation of net income (loss) attributable to common shareholders to consolidated NOI:



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
	(In thousands)
Net income (loss) attributable to common shareholders	$	(3,040	)	$	20,574	$	21,821		$	16,384
Add:
Depreciation and amortization expense	45,995			48,117		94,714			97,277
General and administrative expense:
Corporate and other	11,559			8,603		23,873			17,017
Third-party real estate services	28,710			21,189		56,776			43,798
Share-based compensation related to Formation Transaction and special equity awards	9,523			9,097		20,654			18,525
Transaction and other costs	2,974			3,787		7,869			8,008
Interest expense	13,107			18,027		30,281			37,284
Loss on extinguishment of debt	1,889			4,457		1,889			4,457
Reduction of gain on bargain purchase	—			7,606		—			7,606
Income tax expense (benefit)	51			313		(1,121		)	(595		)
Net income (loss) attributable to redeemable noncontrolling interests	(288		)	3,574		3,099			2,980
Less:
Third-party real estate services, including reimbursements	29,487			24,160		57,178			48,490
Other income ⁽¹⁾	2,114			2,080		3,755			3,196
Income (loss) from unconsolidated real estate ventures, net	(1,810		)	3,836		1,791			1,934
Interest and other income, net	2,052			513		3,003			1,086
Gain on sale of real estate	—			33,396		39,033			33,851
Net loss attributable to noncontrolling interests	—			125		—			127
Consolidated NOI	$	78,637		$	81,234	$	155,095		$	164,057

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⁽¹⁾	Excludes parking income of $6.7 million and $6.6 million for the three months ended June 30, 2019 and 2018, and $13.1 million and $13.0 million for the six months ended June 30, 2019 and 2018.

Below is a summary of NOI by segment. Items classified in the Other column include future development assets, corporate entities and the elimination of intersegment activity.



	Three Months Ended June 30, 2019
	Commercial		Multifamily		Other				Total
	(In thousands)
Property rentals revenue	$	94,626	$	28,873	$	(1,173	)		$	122,326
Other property operating income	6,600		90		—				6,690
Total property revenue	101,226		28,963		(1,173		)		129,016
Property expense:								—
Property operating	26,409		8,204		(2,500		)		32,113
Real estate taxes	12,739		4,143		1,384				18,266
Total property expense	39,148		12,347		(1,116		)		50,379
Consolidated NOI	$	62,078	$	16,616	$	(57	)		$	78,637



	Three Months Ended June 30, 2018
	Commercial		Multifamily		Other			Total
	(In thousands)
Property rentals revenue	$	100,167	$	26,649	$	(225	)	$	126,591
Other property operating income	6,492		97		27			6,616
Total property revenue	106,659		26,746		(198		)	133,207
Property expense:
Property operating	27,143		7,695		(374		)	34,464
Real estate taxes	12,217		3,615		1,677			17,509
Total property expense	39,360		11,310		1,303			51,973
Consolidated NOI	$	67,299	$	15,436	$	(1,501	)	$	81,234



	Six Months Ended June 30, 2019
	Commercial		Multifamily		Other				Total
	(In thousands)
Property rentals revenue	$	190,873	$	57,123	$	(6,257	)		$	241,739
Other property operating income	12,974		170		—				13,144
Total property revenue	203,847		57,293		(6,257		)		254,883
Property expense:								—
Property operating	56,889		16,172		(8,774		)		64,287
Real estate taxes	25,252		7,692		2,557				35,501
Total property expense	82,141		23,864		(6,217		)		99,788
Consolidated NOI	$	121,706	$	33,429	$	(40	)		$	155,095



	Six Months Ended June 30, 2018
	Commercial		Multifamily		Other			Total
	(In thousands)
Property rentals revenue	$	205,747	$	52,540	$	(468	)	$	257,819
Other property operating income	12,736		187		56			12,979
Total property revenue	218,483		52,727		(412		)	270,798
Property expense:
Property operating	56,047		14,980		(1,405		)	69,622
Real estate taxes	26,998		7,163		2,958			37,119
Total property expense	83,045		22,143		1,553			106,741
Consolidated NOI	$	135,438	$	30,584	$	(1,965	)	$	164,057

The following is a summary of certain balance sheet data by segment:



	Commercial		Multifamily		Other		Total
June 30, 2019	(In thousands)
Real estate, at cost	$	3,686,168	$	1,761,400	$	357,063	$	5,804,631
Investments in unconsolidated real estate ventures	173,520		109,067		37,169		319,756
Total assets ⁽¹⁾	3,514,669		1,623,016		869,590		6,007,275
December 31, 2018
Real estate, at cost	$	3,634,472	$	1,656,974	$	501,288	$	5,792,734
Investments in unconsolidated real estate ventures	177,173		109,232		36,473		322,878
Total assets⁽¹⁾	3,707,255		1,528,177		761,853		5,997,285

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⁽¹⁾

Includes assets held for sale. See Note 3 for additional information.